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>>> good morning. in the state of the union, president obama presses congress on issues including taxes, entitlements, immigration, and gun control. >>> market milestones. the dow turning in its highest close of the year. announcing 1% of an all-time record. >>> and in corporate news, comcast is buying the rest of nbcuniversal from general election for $16.7 billion. it's wednesday, february 13, 2013. "squawk box" begins right now. >>> good morning, everyone, welcome to "squawk box" on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. we are following major stories. after yesterday's close on wall street, u.s. equity futures this morning, well, you see they are fight a little bit higher. -- they are fight a little bit higher. after gains yesterday, the dow up more than 45 points yesterday. our guest host is westwood capital's len bloom. the next hour, famed investor and billionaire real estate tycoon, sam zell. top-ranked money manager don yakman. his fund have seen annual returns of 10% over the last five years. we'll also talk about how business leaders and inv
, a week from now, president obama is going to do his state of the union address, okay? typically the market doesn't respond well when the president talks. then we're going to start to get into some of the nitty-gritty, some of the spending issues. that would be a perfect opportunity for the market to give half of that back. so we've had a 6% rally. why not, you know, reclaim three of that percent over the course of the next few weeks. >> do you feel like we're acting a bit bullish with regard to the markets? i get the feeling it's more buying from kaufton as opposed to selling at this point, right? >> i think that's right. first of all, you've approached a couple of psychological hurdles on the dow and the s&p. we've seen what earnings season is going to give us. we're approaching the sequester cuts on march 1st and there is an increasing belief that they're going to be triggered. and so when you add on to that the fact that payroll taxes went up and the economy is going to be pretty sluggish here in the first half of the year. so i agree with phil that we're probably going to gi
expressing outrage. meantime, china is calling for calm. >>> the state of the union, president obama set to deliver an address to congress tonight. and stocks getting a slow start to the week. the s&p falling for a fifth straight monday. today is tuesday, anyway, february 12th, 2013. and "squawk box" begins right now. >>> asian markets shrugging off the tests in north korea. but markets in china, taiwan remain closed. north korea says a miniaturize ed nuclear missile was tested. the u.s. ambassador to south korea responding to all of this. >> it's a very provocative act that undermines regional peace and stability and i think it would be critical for us to coordinate very closely with you and our colleagues in south korea going forward. >> we're going to talk more about washington's reaction and what this all means for geouncertainty and our guest hosts for this hour, jared bernstein who works as the chief economist for joe biden. tony is joining us and capital alpha markets managing director chuck gabriel. they're also going to talk state of the union. john harwood sat down with dave ax
congress takes action. we will talk to president obama's right hand xhan on the economy been gene sperling. and we will talk about what action or inaction means in corporate america and the markets. among our guests today, larry bossidy. he will be our guest host today. evercore's founding partner, roger altman. >>> in the headlines this morning, royalty pharma is making an $11 a share bid to acquire elon. it hasn't received a formal response, but acknowledges it has been unsuccessful so far in its efforts to engage with the drugmaker since making that offer. shares rising this morning. take a look. also today, voluntarily recalls all lots of anemia treatment in the u.s. by royalty pharma. the drug is used to treat anemia. shares of affy defendant's exhibit madz down sharply in early trading this morning. >>> and hewlett packard announcing it's making a tablet that uses google's operating system. the hp7 will be in a similar size to the amazon fire. hp had a failed attempt back in 2011 with a device based on palm's web os software when it bought that for a nice sum -- actually, it paid way
calloused. i think part of the story playing out is the opposite of what obama is saying which is fire and brimstone and rockets. >> i don't believe the -- if you do the math, it's 85 billion, but it's spread out over time. i think the bright red was 45 billion by september. it's 0.25%. in and of itself, it's not a big deal in this economy. >> and is we wait a month and the fed puts 85 billion back into the market, don't they, andrew? >> but not in the economy. >> the economy doesn't take it, huh? >> but, you know, i think the big point is we have a -- >> we -- >> and in the context of how does it matter is how does the market react to it? and that's the thing to watch. how does the market react in europe? i don't know that it's italy. italy is okay. >> even the austerity in italy, it's not all the same. it has been tax hikes. the spending cuts, that side of austerity always turns out bad. >> spain. >> spain has a different issue. >> they've had real cuts. >> yeah. >> and unemployment, they've had real cuts. >> and the market has forgotten about the fact that we need a banking unit. th
spending. we promise. we will do it. and they both agreed to do this. now it was a -- obama is not asking to do targeted spending cuts. he's asking to do a deficit reduction package. >> it has moved. >> it has moved. and the u.s. -- >> we talked clearly about it and -- >> and you ask the people in the u.s., what about sequester? i just want to see that we can cut spending. the reason we -- >> it's symbolic at this point. >> it is. it's only 44 billion by tend of the year. >> i would agree. i would think that if you hadn't looked at what you had done over the last couple of months where it had been partisan politics and where republicans feel like they got the short end of the stick, you might be able to do a better deal right now. but every time one side feels like it's lost, it has to come back and make up ground. >> government has grown 20% over the last four years. we're trying to cut it marginally. >> but you know as well as i do, it's discretionary spending that's the big problem. >> but there's still hundreds of billions of dollars in discretionary spending. but there's 200 billion
quality. so we think it's a very fair return. >> david, obama care is coming. how is that going to affect your company? >> we see obama care as driving change in the marketplace and change is good because maybe to your core question, the status quo is not acceptable. we need to take costs out of the system and increase quality. for us, focus more on services. the change in the marketplace is a positive. one of the biggest changes we see happening in the united states is the opportunity to partner with physicians, to collaborate with physicians, to drive increases in health quality. today we have over 50 collaboratives already up and running in the united states where physicians are more paid based on the quality of outcomes haves the quality of services. as a result, people are getting better quality of outcomes, better services and costs are coming out of the system. >> david, give us a -- your outlook for the year ahead and a little bit beyond that. to what extent, when washington is -- it's in the middle right now of the process of trying to find cost savings. do you expect some of tho
we're here on squawk. >>> also, calls to the white house. president obama will be meeting with a dozen ceos today. and the bulls trying to battle back. it's been a good year, but now stocks coming off their worst losses this year. it's february 5th, 2013 and squawk begins right now. >>> good morning, everybody. ike becky quick along with andrew ross sorkin. joe kernen is off today so we are again joined by steve liesman. also at the table with us this morning, our guest host is andy surel. andrew just talked about the markets. stocks ending at session lows yesterday. in fact, all ten s&p sectors closed lower. yet the bulls betting this is nothing more than a bull pac. but we will have a number of powerful investors for their thoughts throughout yao the morning. jim o'neill will join us in just a few minutes. then in the next half hour, the man charged with making sdigs for how blackrock invests more than $1 trillion, the firm's chief investment strategist, russ koesterich. nouriel roubini will be joining us and we're going to ask him for his current view of the world. in t
coming at us. we got dodd-frank, which isn't out yet, really. and we got obama care. and obama care, when you look at the complexities in that plan, health care costs are going to go up, they're not going to go down. and you've got temporary workers to deal with. retail has got a hell of a problem. going from 35 hours a week to 30 hours a week for a temporary employee. if you've got 50 employees. you want 49. there's so many complexities in these two things. so my concern about acceleration, is regulatory. warren may have a different view of that. >> interesting thing is i agree with everything jack has said, but it's -- it's i don't come away as pessimistic as he does. but he's absolutely right about, you know, about what's happening with health care, and everything. i don't disagree with a word that he said. that he said. >> and i'm not pessimistic, warren. i'm not pessimistic. i just think we -- we're at a position where we could really take off if we had the right policies. >> yeah. well i -- i -- the interesting thing kind of is that america really is doing better than the rest of th
away from its all-time high and a taxing debate in washington. president obama once again says he's going to seek to get new revenue to help bring down the deficit and specifically, he's now calling out carried interest tax breaks again. we'll see where that goes. plus, the story that everyone is talking about this morning, the ravens holding on to beat the 49ers in the super bowl after the lights went out for 45 minutes at the superdome. we're going to try to keep the lights on. "squawk box" begins right now. ♪ if you like it then you should have put a ring on it ♪ ♪ if you like it then you should have put a ring on it ♪ >> good morning, everybody. i'm becky quick along with andrew ross sorkin. joe kernen is on vacation today so we're joined by steve liesman. we're happy to have him here. our top story this morning, the market. we have assembled a trio of wall street's most respected voices to join us for the next hour. we have a lot to talk about this morning. plus, there is that issue of the lights going out at the super dole last night. officials say an abnormality in
and andrew ross sorkin. making headlines this morning, president obama is holding a white house open day-to-day hack-a-thon. >> oh. >> it's about hacking. >> duh. >> i thought it was about filling the entire places with hacks. >> i knew that's where you were going. >> that's what i thaw it was, a swear. >> come on, mr. brand new iphone. >> yeah. the administration is inviting developers and tech experts to come and share ideas. i thought it was just axelrod and a couple of the -- you know, i'm sorry. i apologize for that. hack-a-thon res common in the tech industry, complete with beer, pizza, sleeping bags, they're basically athletic events for technical geeks. i can't get beyond what i think a hack-a-thon is. it's such a perfect name. i was just thinking, we just talked about geeks today. did you see google today? >> i did. >> do you know who this guy is? i would feel inadequate. do you know add ward gorey? he was born in 1925 and it's about doodling. but they need to -- those guys at google every day need to prove their ultimate geekiness to us. >> or you can use it as an opportunity t
Search Results 0 to 10 of about 11